Automatic Exchange of Tax Information in the European Union – The Standard for the Future

This article analyses various perspectives regarding the future European standard for automatic exchange of tax information. It presents the legal framework for such information exchange within the European Union and discusses the influence of the US FATCA on the EU legal environment. Finally, it questions whether or not the international tax information exchange system, based on automatic transfer of data, can work effectively and whether the obstacles caused by differences amongst Member States can be overcome.